You will need to have good property management in place or be personally involved as the tenants tend to be more management intensive.

@Greg Fox I hate to say this, but you will need to get your attorney involved.  

I also can't be involved with any REO/Shortsale properties where my bank has or services the loan.Are you communing from Avon to the city?

The difference between the appraisal and the listing is 1,200 additional sq ft.The house is priced at a multiple that makes sense for the original square footage listed given the area, but applying that same multiple (or even a decent bit lower) to the appraiser's higher estimated size would get a significantly higher value.Could a buyer be sitting on a windfall that the seller missed?

There is annual filing and extra tax work involved.

Is it possible to bundle multiple properties into one loan? 

I don't  have the cash on hand for a conventional loan to be able to put 15-25% down so would need a partner or private lender that can work with me on the financing, and I would handle everything else involved with a buy and hold rental.  

I have managed my own property in the past and that is one of the reasons I am an out of state investor, I don't even want to be tempted to get involved with the property management part of the job.Just my .02. 

This only works for hot market with multiple offers after a week of listing.

They do affordable senior housing but I think they like to be involved early on in design decisions.